Unreliability of sanctioned persons

A natural or legal person, or a partnership, is deemed unreliable where, under a directly applicable legal act of the European Communities or the European Union published in the Official Journal of the European Communities or of the European Union, and serving to implement an economic sanctions measure decided by the Council of the European Union in the field of the Common Foreign and Security Policy, its funds and economic resources are frozen, or funds or economic resources may not, whether directly or indirectly, be made available to it or for its benefit. A natural person is as a rule deemed unreliable where that person acts as a manager, member of a supervisory board, or in a comparable position, for a person or partnership under the first sentence; this does not apply to employee representatives. A natural person is as a rule also deemed unreliable where that person represents the interests of a person or partnership under the first sentence as a member of a supervisory or administrative board, or of a comparable oversight body, at an institution not covered by the first sentence.